3/5/2014 - When engagement rings go missing

With Valentine's Day now in the rearview mirror, it was right around this time that many lovebirds popped the big question to their main squeeze: Will you marry me?

Hopefully, that answer was yes, and a joyous celebration ensued over the start of a long lasting life together, enjoying the beauty of a new engagement ring.

But with the big day - the wedding ceremony - typically not arriving for a few more months, it's within this span of time that these engagement rings can get lost. Whether it's misplacing it after taking it off to do some cooking, or resting it on the nightstand only to find it missing in the morning, fits of panic can become all consuming until these tokens of love are finally retrieved.

There are a number of stories about lost engagement rings that likely won't soon be forgotten, as compiled recently by The Huffington Post.

For example, it was reported that a woman who was at the beach one summer day decided to shake off the sand that was attached to her beach towel. Normally, this wouldn't be an issue, but what she had done unintentionally was cause her engagement ring to be flung out somewhere along the beach, as she had previously taken it off and rested it on the towel. After 48 hours of worry, she returned to the same beach with a metal detector in tow. It took a good two hours before she found the lost ring, but they were eventually reunited.

Or how about a woman who lost her engagement ring playing football with her fiance. As the Huffington Post described it, not wanting to potentially dirty or damage the ring, New York resident Samantha Peckens took the ring off prior to playing a round or two of football with a group of friends, only to lose track of it by the time the games were over. Thirty of Peckens' friends went on a search parade to find the ring but came up with nothing after several hours.

Then there's the case in Kansas, where a newly engaged woman by the name of Sarah Darling inadvertently gave a homeless man her ring after emptying out her purse to grab some money to donate. Realizing her error soon after it happened, she was able to track down the same man 24 hours later, who in fact had the ring and kindly returned it to Darling.

III: Get that jewelry insured
In each of these cases, the rings were found, but they all could have spared themselves time and frustration by insuring it.

"The word 'insurance' is not likely to be the first word on many lovers lips," said Jeanne Salvatore, chief communications officer for the Insurance Information Institute. "However, if an expensive gift of jewelry is lost or stolen it can certainly soothe the sting of losing a cherished gift. Your first step after receiving a valuable engagement ring - well, maybe your second after saying yes! - should be to call your insurance professional."

There are several ways in which to go about insuring an engagement ring, such as through renters insurance or umbrella insurance. Traditionally, though, it's done by taking out an endorsement on a homeowners insurance policy. This helps guarantee protection of the piece of jewelry, as owners can rest assured that they'll be compensated for its value should it be damaged, stolen or lost. III provides additional tips to keep in mind when insuring jewelry, wedding-related or otherwise.